https://www.taxtmi.com/caselaws?id=69359 The Tribunal affirmed the deductibility of interest, guarantee commission, and commitment charges as claimed by the assessee based on a prior order. However, regarding the allowance of a special reserve under Section 36(1)(viii), the Tribunal held that the reserve must be created from the total income of the relevant year and cannot be carried forward from previous years. The Tribunal disagreed with the CIT(A) and upheld the ITO's restriction of the claim, reversing the earlier decision and accepting the departmental appeal on this issue. en-us Tue, 22 Jun 1982 00:00:00 +0530 Wed, 06 Apr 2011 13:20:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69359 The Tribunal affirmed the deductibility of interest, guarantee commission, and commitment charges as claimed by the assessee based on a prior order. However, regarding the allowance of a special reserve under Section 36(1)(viii), the Tribunal held that the reserve must be created from the total income of the relevant year and cannot be carried forward from previous years. The Tribunal disagreed with the CIT(A) and upheld the ITO's restriction of the claim, reversing the earlier decision and accepting the departmental appeal on this issue. Case-Laws Income Tax Tue, 22 Jun 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69359